In an effort to increase the constituency of MFIN there was a felt need to broaden the existing stakeholders body. Since only registered NBFC-MFIs are eligible to be Members of the Network, other stakeholders with a lasting bearing on the financial inclusion dialogue are intended to be brought on board as Associates. In January 2014 a new Associateship programme has been rolled out to include a very diverse group of entities, all of whom add value to the Sector with their expertise and experience.

Benefits of being an MFIN Associate:

  • Build new financial products and services through a multi stake holder approach
  • Access to data from the NBFC-MFI sector which provides investor insight into the sector
  • Be a part of the policy dialogue impacting the financial inclusion agenda and the sector
  • Invitations to events, seminars, conclaves and roundtable discussions

Associates would include the following:

  1. Banks – All Scheduled Commercial Banks (SCBs),  State Cooperative banks and Regional Rural Banks
  2. NBFCs – RBI Recognized
  3. Housing Finance Companies- NHB Recognized
  4. Insurance Companies
  5. Business Correspondents – All recognized BCs of SCBs
  6. Private Equity Social Investors – All investors VC/PE funds approved by SEBI
  7. Credit Bureaus – RBI recognized
  8. DFIs – Domestic and international, bilateral and multilateral agencies
  9. Rating agency – RBI recognized crdit rating agencies
  10. Telcos – Telecom companies as regulated by TRAI
  11. Think tanks – National & International think tanks engaged in economic & banking policy issues including financial inclusion
  12. Foundations- Domestic & International

List of Associates

  1. L&T Finance Ltd
  2. ASA International India Microfinance Pvt Ltd
  3. M Power Micro Finance Pvt Ltd
  4. Sarvodaya Nano Finance Ltd
  5. Share Microfin Ltd
  6. Svasti Microfinance Pvt Ltd
  7. Accion
  8. Grameen Foundation India
  9. ICICI Bank
  10. IndusInd Bank
  11. Lok Social Services
  12. Vaya FinServ Pvt Ltd

Associate Subscription Fee

  1. One time Application Fee ; INR 51,000
  2. Subscription fee Structure


Associate category Subscription Fee
Financial Institutions INR 5,00,000
Others INR 2,00,000
Not for Profit Entities INR 1,00,000